Form 4: Middlesex Water Co: VP Lorrie Beth Ginegaw Reports Stock Transactions

Lorrie Beth Ginegaw, VP of Human Resources at Middlesex Water Co, reports acquisition and disposal of company stock, including restricted stock awards and vesting.

Summary

• On April 1, 2024, Lorrie Beth Ginegaw, VP of Human Resources at Middlesex Water Co, reported transactions involving the company's stock.
• She acquired 942 shares of restricted stock at $52.50 per share.
• 848 shares of restricted stock vested at $52.50 per share.
• 375 shares were surrendered to cover tax withholding obligations related to the vesting of restricted stock at $52.50 per share.
• Following these transactions, Ginegaw directly owns 4,163 shares of common stock, 520 shares through a DRP (Dividend Reinvestment Plan), and 355 shares held in street name.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock transactions. It doesn't convey any particularly positive or negative sentiment about the company's performance or future prospects.

Positives

• The vesting of restricted stock indicates that performance milestones were likely met.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their trading activities. These filings are closely watched by investors seeking insights into management's perspective on the company's prospects.

Comparison to Industry Standards

• Insider transactions are common across publicly traded companies.
• The vesting of restricted stock is a typical form of executive compensation, aligning management's interests with those of shareholders.
• The surrender of shares to cover tax obligations is a standard practice.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• Shareholders may view insider transactions as a signal of management's confidence (or lack thereof) in the company, but these transactions appear routine.

Key Dates